DFM:TABREED Cash Flow Statement

Financials in millions AED. Fiscal year is January - December.

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	465.34	570.22	431.14	600.19	585.16
Depreciation & Amortization	350.4	345.92	341.59	319.86	273.17
Other Amortization	10.19	14.24	20.23	20.93	15.98
Loss (Gain) on Sale of Assets	-	-	-148.77	-69.64	-110.23
Loss (Gain) on Sale of Investments	-	-	-	-	-51.95
Loss (Gain) on Equity Investments	-2.25	-37.6	-34.92	-29.61	-35.67
Change in Accounts Receivable	-61.95	1.05	6.18	47.51	295.32
Change in Inventory	-10.76	-4.5	-9.66	-9.19	-7.23
Change in Accounts Payable	-135.25	-66.86	84.25	92.3	-30.77
Other Operating Activities	28.22	12.34	245.03	54.21	2.77
Net Cash from Discontinued Operations	-	-	-	-	51.95
Operating Cash Flow	1,002	1,189	1,285	1,355	1,316
Operating Cash Flow Growth	-15.72%	-7.48%	-5.16%	2.94%	109.20%
Capital Expenditures	-186.49	-216.68	-180.37	-184.44	-188.61
Sale of Property, Plant & Equipment	-	-	1.46	-	-
Cash Acquisitions	-	-	-	5.51	-1,212
Divestitures	-	-	68.07	-10.6	-
Sale (Purchase) of Intangibles	-6.11	-40.06	-	-	-
Investment in Securities	-1,184	17.47	-	-53.49	406.57
Other Investing Activities	84.02	62.16	56.87	28.52	17.58
Investing Cash Flow	-1,293	-177.11	-53.98	-214.49	-976.59
Long-Term Debt Issued	5,283	104.88	-	-	52.28
Long-Term Debt Repaid	-4,453	-923.11	-835.8	-78.01	-72.66
Net Debt Issued (Repaid)	830.23	-818.22	-835.8	-78.01	-20.38
Common Dividends Paid	-625.31	-441.02	-383.67	-166.35	-156.14
Other Financing Activities	-282.17	-239.65	-275.14	-320.19	-278.91
Financing Cash Flow	-77.25	-1,499	-1,495	-564.55	-455.43
Net Cash Flow	-367.79	-487.03	-263.5	576.03	-115.62
Free Cash Flow	815.51	972.29	1,105	1,171	1,128
Free Cash Flow Growth	-16.13%	-11.99%	-5.63%	3.80%	115.65%
Free Cash Flow Margin	33.20%	39.98%	45.73%	52.82%	57.68%
Free Cash Flow Per Share	0.29	0.34	0.39	0.41	0.40
Cash Interest Paid	236.23	199.71	226.18	271.56	243.28
Cash Income Tax Paid	62.73	-	-	-	-
Levered Free Cash Flow	356.84	534.79	744.49	234.57	1,039
Unlevered Free Cash Flow	509.18	655.08	889.66	394.55	1,184
Change in Working Capital	-207.96	-70.31	80.76	130.62	257.31

Source: S&P Global Market Intelligence. Utility template. Financial Sources.